To flourish in America today, the average student will have to go to a high-quality college, earn a degree and land a successful job to eventually support a family. However, success is easier said than done, because all of those steps are vital. The step that many Americans struggle with is affording a high-quality college, not because they aren't smart or skilled enough, but because Americans cannot pay for the pricy tuition and additional expenses. The rising of college tuition scares many, even though they yearn for a college degree. Two reasons for this struggle are that college costs are taking a monumental percentage out of Americans salaries, and most importantly the large amount of debt students await after graduation. Even though many people succeed in our country today, most Americans struggle to send their child to a good college to fulfill his or her dream.
Even though many Americans succeed in our country today, most Americans struggle to send their child to a first-class college to fulfill his or her dream. B ooks, housing, tuition, and transportation combined for college dents a hole in American's annual income. The cumulative college expense is stealing too much money out of Americans wallets. Even though many think college is worth the price; is it worth risking all that money? For example, in 2012, college cost took 55% of the lowest income Americans salaries compared to only 39% from 1999- 2000. For those Americans, college seems like a long shot because they still have to pay for the of living, which includes food, housing, and paying taxes (Update: College Tuition Costs) . Also, college costs took 25% of the total salary of middle- income families and16% of upper- middle income families (Update: College Tuition Costs). For those families, college is a huge possibly, but those students will still have a large amount of debt to pay off afterwards. The impact of these percentages rising is the fact that Americans might not be able to send their child to the college of his or her choice because of rising costs. Americans may argue that these rising percentages cause colleges to make more money and eventually put more Americans to work by establishing different programs. In order for colleges to succeed, they will an increase in enrollment, to eventually force colleges to make the college dream more affordable.
If the price of college decreases, the debt that awaits most students post graduation will decrease immensely. The rising college costs are pinning Americans with thousands of dollars of debt post graduation. Recent studies show that sixty nine percent of families eliminated college choices because of costs (Adams). Parents want the best for their children, and want to do anything for them. Conversely, at the end of the day, families need to think what they can financially afford; and in our economy today college is not affordable. For example, in 2012, the average student debt after college was $25,250.00. Because of this massive amount of debt, Americans are constantly scrambling to earn extra money to eventually pay off the debt (Average Student Loan Debt: $25,250).
The impact of college debt is that Americans are struggling to spend more money on necessities because they are too busy worrying about their college debt. Americans may counterclaim that most Americans eventually pay off their college debt. That is not the point. The point is that most Americans walk out of graduation with thousands of dollars of debt, and that in some cases it is unavoidable. The Pew report found that even the richest twenty percent of households, owed the biggest share of student debt (Yen). Even families whose income exceeds seventy thousand a year struggle with paying tuition. Should families sacrifice college in order to save money? No, college is important and tuition must be lowered in order for family and students to constantly stop worrying...